Post-Graduate Blues: Benefits? What Benefits?
Hello wonderful Babson-haters, and a big tip-o-the-hat to Babson-lovers.
I have not posted for a good long while, why do you ask? I guess I have not had enough contempt for Babson built up in order to drive me to express my disdain via blog post.
So, since I graduated this last September (which in itself was a bit of a rough landing; we had to start tossing passengers to slow the descent…it wasn’t pretty), I decided I would pursue my dream of purchasing a motorcycle, then driving across this huge-ass county to none other than sunny California. The trip was great…blah blah blah…I arrived in San Diego.
For three months, I tried to get a job. At first I was picky. Then I lowered the bar, and I then I almost broke the damn thing because I slammed it so hard into the ground. The fucking bar couldn’t get any lower. I figured, maybe I just didn’t have enough experience? But I’ve had 2 internships, AND I’ve ran my own apparel company for the last 2 years! What on Barefoot’s Green Earth could be preventing these people from not calling me back? Not one e-mail, not one phone call in 3 months and over 100 applications, with varying follow up tactics, and cover letters. Every position was entry-level (some internships), I certainly wasn’t shooting for the stars, and if I was, I hit my fucking foot. I was working a retail job, and hated every minute of it, so I quit, and refused to get another crap job and go for the career winner. Nothing. But then I got an interview in San Francisco! Alas, a break! I flew up there on my own coin, and absolutely killed the interview. Even better, I had a personal recommendation from the head national recruiting whom my father happened to be friends with! This was third rounds too, as I had already had two phone interviews. I would’ve bet my life on me getting that job. But, to my absolute dismay, I did not receive the position. I was crushed, and out of money, so I had to circle the wagons, and head home with my tail between my legs. More importantly, I was baffled…they hadn’t asked for my GPA (which isn’t too stellar), and I had inside people sending notes to the small branch telling them to hire me…so what went wrong? I received a note from my fathers friend, the Head Recruiter telling me the name of the other candidate (there were only two, me and her). I facebooked her, my jaw dropped: she was a recent grad from a local California Technical College, about one step up from a Community College.
But then it dawned on me: why would they choose her over me? Because not even the goddamn internet has heard of Babson College once you get out of the North East. I asked around. No one had heard of it. Especially not employers. I was a man who was holding the worlds largest ball of shit, and hidden deep inside was a tiny gold nugget known as “Babson”. Babson’s marketing is a fraud, a scam. Students are being bamboozled into thinking that the college has national pull, when it couldn’t be more localized.
Now for the skeptics in the audience, let me add a constant. I returned to my home in Connecticut (reluctantly, and broke) and using the same Craigslist, Monster, CareerBuilder resume-carpet bombing technique I used in San Diego, I was astonished. Within three weeks, I had 3 interviews. Within six weeks, I had an offer, with four other interviews lined up. I had a choice of where I got to work. My job I have now is great, I couldn’t be happier, nor could I be in a better position for long term growth. The only difference being: every single interview I had in the North East started with “Oh I know Babson, it’s a great school!”. I bit my lip, smiled and said “Absolutely it is!” every gut wrenching time I heard that sentence.
Yes, the Babson name is worth something. It’s worth a job. But that name, “Babson”, west of Pennsylvania, means about as much as the fake diploma I received on the day I was supposed to graduate with my class in May, when only weeks before I had been informed I was a few credits shy of officially graduating. Thanks again Babson, you got me, you little scamp, you.
Transitioning into a different subject, a more broad one, but still pertinent to Babson, I’d like to discuss Student Loans. Babson’s tuition went up again this year, poor students… So here’s the facts, source: Princeton Review.
| Aid Statistics | |
| Freshmen receiving need-based financial aid: | 40% |
| Undergraduate receiving need-based financial aid: | 24% |
| Average freshman loan: | $2,686 |
| Average freshman total need-based gift aid: | $21,793 |
All right, hey! 24% of students get financial aid! And total average aid is almost $22k! But…lets run some numbers here… tuition, room and board and meal plan easily total almost $48k a year, that leaves Mr. Average Aid Package only cutting less than half of that per year. So, that being the case, the total for four years cost (after aid) is $104k. Now, let’s assume most of the student who need aid do not have the financial propensity pay in cash, so they take some loans out for…oh, let’s say $100k.
By the way, Babson doesn’t even report it’s tuition now, check this out, right from Princeton Review.
| Annual Expenses | |
| Tuition: | Not Reported |
Think the conversation went like this? “Um…tuition is rising every year because we don’t have large enough endowment and no one’s donating and our costs (of flagpole fountains) and faculty greatly outweigh our income…what do we tell the prospective students who want to try and budget out the next 10 years of their life based on our tuition?” [Barefoot Pauses, steepling his fingers] “Tell them, NOTHING!” as he says with a death metal yell.
Seriously, thats brutal, in every since of the word. Anyways, $100k in debt, students are kicked into the (hopefully east coast) workforce to try and find a job, where they will then face…drum roll please… up to an $1,800 payment per month for 15 fucking years. If they’re lucky, post-consolidation, they are looking at $600-$800 for 30 fucking years. Thats a final cost of $250,000-$300,000 after all payments are made on time. The banks’ investment in you being an idiot and the school being a marketing ploy has paid off, and paid off well might I add. They’ve tripled their investment.
Now you might say: “pay it off early!” Ya, let me get right on that with my $35k a year salary, my shit ass apartment, and my used car I just financed. How the fuck do you expect me to make $1800 monthly payments one year out of college? Moreover, how does Babson get away with not disclosing critical information about it’s tuition and expenses to its perspective students?
And on a final note: I have been called by Babson four times since I walked in May and been asked for Alumni donations. You’ve got to be fucking kidding.
Farewell and good night Babsonians, lock your doors, because odds are, you’re being felt-up financially while you sleep as well.

Posted April 2, 2008
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